EU completes gas withdrawal season with 59% of storage facilities filled
Kyiv • UNN
At the end of the winter gas withdrawal season, European gas storage facilities were 59% full, a record high for this time of year, allowing the EU to have enough gas for the next winter and reduce its dependence on Russian gas imports.
European gas storages were 59% full at the end of the winter season of natural gas withdrawals, a record high, and gas prices in Europe fell to the level seen before Russia's full-scale invasion of Ukraine in February 2022, the Energy Ministry said on Tuesday, citing published data, UNN reports.
Details
"The EU has completed the season of gas withdrawal from storage facilities - they are 59% full," the agency said on Telegram.
According to Gas Infrastructure Europe, by the end of the winter gas season, which ends on March 31, European gas storage facilities are 59% full, a record high for this time of year. "The EU will have enough gas in storage next winter, and the remaining buyers of Russian pipeline gas in Central Europe are working on alternative imports in case transit through Ukraine is cut off," the agency noted.
Gas prices in Europe have reportedly fallen to levels seen before Russia's full-scale invasion of Ukraine in February 2022, hitting a three-year low in February. Mild weather and high renewable energy production limited gas demand and reduced the amount of gas that needed to be taken from storage.
"Gas stored in storage typically accounts for about 1/4 of winter gas consumption in Europe, where it is the main heating fuel. The most vulnerable EU countries are Austria and Slovakia, as they still import a significant portion of their gas from Russia via Ukraine, but even they say they are working on new sources of supply to limit the impact in the event of a supply cut-off," the agency noted.
The EU agreed to continue the policy of reducing gas consumptionMar 4 2024, 06:27 PM • 25490 views
